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China Glass Holdings Limited ( (HK:3300) ) has issued an update.
China Glass Holdings Limited announced that its subsidiary, Beijing Qinchang Glass Co., Ltd., has entered into a land resumption and compensation agreement with the Beijing Changping District Housing Expropriation Affairs Center. The agreement involves the resumption of land use rights for two plots in Beijing’s Changping District, with a compensation amount of approximately RMB298 million. This move aligns with Beijing’s development planning, as Qinchang Glass had already ceased operations on the land. The compensation will be paid in three stages, potentially impacting the company’s financial position and operational strategy.
More about China Glass Holdings Limited
China Glass Holdings Limited is a company incorporated in Bermuda with limited liability, operating in the glass manufacturing industry. Its primary focus is on the production and distribution of glass products through its subsidiaries, including Beijing Qinchang Glass Co., Ltd., which operates in the People’s Republic of China.
Average Trading Volume: 1,287,500
Technical Sentiment Signal: Sell
Current Market Cap: HK$538.9M
See more data about 3300 stock on TipRanks’ Stock Analysis page.